LAW 529 Lecture Notes - Lecture 4: American International Group, Sherron Watkins, Bernard Madoff
18 Oct 2017
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Stakeholder: anyone who affects or is affected by decisions made within the firm, for better or for worse. Bernie madoff: pyramid scam that resulted in the loss of over billion. Prince bandar bin suktran: was taking personal payments of million over a 10 year period from a defence contract between the british government and the saudi government. American international group (aig): bailed out by us government ( billion) because they were tooo big too fail. Economic stabilization act of 2008 to prohibit unreasonable and excessive compensation and compensation not based on performance money. Sherron watkins (enron vice president) voiced her concern about the corrupt unethical manner the company was conducting with in a memo to the vice president. Philosophers often emphasize ethics is normative, deals with how we should act. How we should live with the community around us is often referred to as social ethics. Ethical values: serve the ends of human well being.
